Fri, 28/05/2004 - 10:13
London-based Fortune Group has concluded a strategic partnership with Viewpoint Investment Partners in San Diego to build out High Point Offshore Ltd as part of Fortune's successful emerging manager program,
Fortune Capital High Point is a long/short US equity offshore version of the USD 68 million High Point Partners. High Point Partners has posted positive net returns every year since inception in April 2000 with annualised compound returns of 19.22% through March 2004.
Portfolio manager Richard Coons utilises macro-economic research to develop top-down themes and bottom-up fundamental research for individual stock selection.
The investment objective is consistent capital appreciation targeting a 15-25% return with below market volatility. High Point Partners aims to make money in all types of markets.
The fund generally maintains a net exposure of 20-40% hence gross invested assets never exceed 100%. The stock selection process is a repeatable four step process focusing on screening, fundamentals, valuations and technical/market psychology.
Richard Coons has been actively managing small to mid-cap growth stock portfolios for 30 plus years. Prior to starting Viewpoint Investment Partners, Coons was a principal and senior portfolio manager for 10 years at Wall Street Associates.
Prior to joining Wall Street Associates, Coons was Vice President of Alliance Capital Management and President of the Alliance Capital Technology Fund and Alliance Capital International Technology Fund. Prior to positions held at Alliance, Coons was a partner at Robertson Stephens in San Francisco. He holds the designation of Chartered Financial Analyst.
Background Note: Fortune Asset Management is a London-based asset management company, authorized and regulated by the Financial Services Authority and registered as an investment advisor with the SEC. High Point is one of the managers in Fortune's Emerging Manager Program (EMP). EMP seeks to identify and provide seed capital and/or distribution to select early-stage hedge funds. For Fortune and its investors, EMP provides preferential access to early stage hedge fund talent, secured hedge fund capacity and access to managers with pre-agreed terms of transparency, liquidity and favourable pricing.
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